SeaSpine released its preliminary financial results for the third quarter of 2018.
Here are four things to know:
1. Revenue for the third quarter is expected to be between $35.5 million and $36 million, reflecting approximately 12 percent to 13 percent growth year-over-year
2. Compared to the third quarter of 2017, total U.S. revenue is expected to increase between 12 percent and 13 percent, generating $31.5 million to $31.8 million. Both U.S. orthobiologics and spinal implants revenue expected to increase more than 10 percent.
3. The spine company has not sold any shares of its common stock under its $50 million "at the market" equity offering program.
4. SeaSpine expects its full-year 2018 revenue to range from $141 to $142 million.
"We are pleased by our revenue results for the third quarter, which reflect solid revenue growth across all portfolios," said SeaSpine President and CEO Keith Valentine. "This momentum is driven by increasing market penetration from our recently launched products, a more engaged and increasingly exclusive distributor network and from a deeper commitment in our organization to customer experience and medical education and training."